§ 43-40-10 — Requirements for firm to be granted broker's license

No broker's license shall be granted to a firm unless: (1) Said firm designates an individual licensed as a broker as its qualifying broker who shall be responsible for assuring that the firm and its affiliated licensees comply with the provisions of this chapter and its attendant rules and regulations; and (2) Said firm authorizes its qualifying broker to bind the firm to any settlement of a contested case before the commission as defined in Chapter 13 of Title 50, the "Georgia Administrative Procedure Act," in which said firm may be a named respondent. Violations of this chapter or its rules and regulations by a firm licensed as a broker shall subject the license of the qualifying broker to sanction as authorized by this chapter. No broker's license shall be granted to a firm unless every person who acts as a licensee for such firm shall hold a real estate license.

Legislative History

Amended by 2006 Ga. Laws 763,§ 7, eff. 7/1/2006. Amended by 2004 Ga. Laws 564, § 43, eff. 5/13/2004. Amended by 2003 Ga. Laws 94, § 9, eff. 5/30/2003.